Use the Information Above to Answer the Following Question

question 34

Multiple Choice

Use the information above to answer the following question.How would this information be reported on the balance sheet at the end of the first quarter?

• A)$400 as interest expense and $20,000 under long-term debt.
• B)$400 as interest payable,$5,000 as current portion of long-term debt under current liabilities,and $15,000 under long-term debt.
• C)$1,600 of interest under current liabilities,$5,000 as current portion of long-term debt under current liabilities and $15,000 under long-term debt.
• D)$400 as interest payable under current liabilities and $20,000 under long-term debt.

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Definitions:

Flexor Digitorum Longus

A muscle in the lower leg that flexes the toes and plays a crucial role in walking.

Dorsiflexion

The movement that bends the foot upwards toward the shin, decreasing the angle between the dorsum of the foot and the leg.

Anterior Side

Refers to the front surface of the body or an organ, opposite to the posterior side.

Retinaculum

A band or ligament that holds an organ or part in place, often used in reference to bands around tendons.